Is Bitcoin about to enter the "halving danger period"? What do industry insiders say?

One analyst says Bitcoin could be just days away from entering its pre-halving “danger period” — which has historically seen a drop in the price of the cryptocurrency before halvings.

“In two days, Bitcoin will officially enter its ‘dangerous period’… The historic pre-halving pullback has begun,” cryptocurrency analyst Rekt Capital shared in a March 17 post.

Rekt Capital explained that in the past, Bitcoin prices have fallen in the 14 to 28 days before the halving. During the 2016 halving, Bitcoin fell 40%, and in 2020 it fell 20%.

Red highlights the price retracement area before the halving, and green highlights the price boom after the halving. Source: Rekt Capital on X

In January, Rekt Capital predicted that a “pre-halving rally” would occur approximately 60 days before the halving, followed by a “pre-halving retracement” around one to three weeks before the halving.

This prediction proved to be correct, as Bitcoin began to surge in mid-February and further surprised analysts by surpassing the previous cycle’s all-time high of $68,990 in March — the first time Bitcoin has done so before a halving event.

According to CoinMarketCap, the next halving will occur in 33 days, on April 20. However, according to data from Cointelegraph Markets Pro, the price of Bitcoin has fallen 8.5% from its all-time high of $73,835 on March 14 to the current $67,537.

Crypto.com and Binance CEO Bullish on Bitcoin

Binance CEO Richard Teng told a crowd at an event in Bangkok on March 17 that he expects Bitcoin to continue breaking records and climb above $80,000 by the end of the year, Bloomberg reported.

Teng claimed that Bitcoin is “only just getting started,” noting that institutional investors have made significant allocations to cryptocurrencies through new U.S. exchange-traded funds (ETFs) — which manage $57 billion, according to Dune Analytics.

He said he expects Bitcoin to exceed $80,000 “as supply decreases and demand continues to grow,” but it won’t be a “straight line” and the price will fluctuate along the way.

Crypto.com co-founder and CEO Kris Marszalek told CNBC on March 15 that Bitcoin’s recent price drop was a “healthy move that takes out some of the leverage that was built up.”

He added that his exchange is seeing a rally in Bitcoin that was last seen in late 2020 and early 2021, when Bitcoin went from less than $20,000 to over $60,000 in just over three months, and said current volatility is “actually pretty low compared to what we’ve seen in previous cycles.”

Marszalek   Bitcoin’s price is expected to “steadily increase” and “not see sudden swings” because it is an asset “you want to hold for decades, not days or weeks.”